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Group-15 Nations Wrap up 10th Summit in Cairo
The Group-15 countries ended their 10th summit in Cairo on Tuesday with a decision to admit Columbia and Iran into the 17-member developing nations' club.
During the two-day gathering, G-15 leaders discussed ways of promoting inter-group economic and trade cooperation and seeking dialog with industrialized countries.
They also tackled the economic globalization and the existing multilateral trade system. The leaders called for joint efforts to offset the negative effects of the trend on the developing world, while playing down opportunities offered by economic globalization.
The summit adopted a collective stance which called on the developed countries to change their trade policies discriminating against developing nations.
It also urged the developed countries to increase assistance to developing countries so as to help them achieve development in the fields of economy, trade, science and technology.
The summit decided to convey a message to the Group-8 industrialized countries -- the United States, Japan, Germany, France, Britain, Italy, Canada and Russia -- calling for dialog on ways to better benefit the economic globalization.
It also called for steps to strengthen the cooperation among the G-15 member states and that between G-15 members and other developing nations in expanding production and exports, enhancing economic competitiveness and small and medium enterprises.
The G-15, founded in 1989, currently groups Algeria, Argentina, Brazil, Chile, Egypt, India, Indonesia, Kenya, Jamaica, Malaysia, Mexico, Nigeria, Peru, Senegal, Sri Lanka, Venezuela and Zimbabwe.
Its member states account for a third of the world's population and produce 2 trillion U.S. dollars in goods. Their combined exports last year stood at 361.4 billion dollars and imports at 357.2 billion dollars.
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